The Pension Benefit Guaranty Corporation has approved the Special Financial Assistance Program application for the New York-based Pension Plan of the Printers League — Graphic Communications International Union Local 119B, according to the agency.
The plan, which covers 1,213 participants in the printing industry, became insolvent in August 2021.
The GCIU Local 119B Plan will receive $85.2 million in special financing, including interest to the expected plan payment date.
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